Gold recently touched its all-time high which now stands as a critical benchmark for market sentiment. This level is expected to act as a firm ceiling for the time being making it a pivotal marker that traders must monitor closely. From the current structure it is reasonable to anticipate a potential formation of localized resistance somewhere around the midpoint between the recent peak and preceding corrective levels. This zone could trigger renewed selling pressure and initiate a downward retracement phase.
From a practical trading perspective scaling down to shorter timeframes such as the 15 minute chart can help identify micro patterns of weakness along with clustering resistance points. Such signals often precede broader declines particularly when momentum starts to fade after an extended move upward....
Hope it helps
Gold recently touched its all-time high which now stands as a critical benchmark for market sentiment. This level is expected to act as a firm ceiling for the time being making it a pivotal marker that traders must monitor closely. From the current structure it is reasonable to anticipate a potential formation of localized resistance somewhere around the midpoint between the recent peak and preceding corrective levels. This zone could trigger renewed selling pressure and initiate a downward retracement phase.
From a practical trading perspective scaling down to shorter timeframes such as the 15 minute chart can help identify micro patterns of weakness along with clustering resistance points. Such signals often precede broader declines particularly when momentum starts to fade after an extended move upward.... Hope it helps